san francisco now? >> the budget is the most imminent issue. we do have a structural budget deficit in the city. we need to deal with the short- term balancing of the budget in a way that does not decimate basic city services that people rely on but also to address our long term structural budget deficit. that means implementing budget reforms that will smooth out the budget process so that it is not a boom-bust process. that means reforming our pension and retiree system so that they are stable and do not drain the general fund. that is a big aspect of it. another huge issue is the deferred maintenance on our infrastructure. we have a lot of infrastructure that has been deteriorating because we have not maintained properly. that includes roads, sewer systems, muni. we need to be much more diligent about maintaining our infrastructure. some of the big citywide issues that impact the district include transportation. we had more muni service and some other districts. it is not always reliable. some of the major bus lines in the district are not reliable. we have major projects like th

deficit. we already reached the $16 trillion debt limit set by congress. treasury secretary tim geithner says his accounting tricks and maneuvers can only buy us a couple more months the president wants to call on congress to raise the debt ceiling without drama. he says even the threat, note to raise the debt ceiling could cause a down-tick in the nation's credit rating as it did in 2011. republicans are determined to use that leverage. it may be the only leverage they have to raise the nation's debt ceiling. in the past it has worked to demand spending cuts in exchange for raising the nation's debt ceiling. they intend to do it this time. heather? heather: a lot going on in washington. we hear rumors the president may address the issue of immigration reform. that may be one of the top priorities of his administration. is he expected to talk about that? >> reporter: perhaps but even before that the president is likely to be asked about efforts to curb the nation's gun violence with vice president biden set to give recommendations to the president as early as tomorrow. he has be

the man driver of our deficits, we can arrive at a package that gets this thing done. i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. the threat that unless we get our way, unless you got mut mede or medicaid, or, you know, otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. that is not how historically this has been done. that's not how we're going to do it this time. chuck what i'm saying to you is that there is no simpler solution, no ready, credible solution other than congress either give me the authority to raise the debt ceiling, or exercise the responsibility that they have kept for themselves and raise the debt ceiling. because this is about paying your bills. everybody here understands this. i mean this is not a complicated concept. you don't go out to dinner and then eat all you want and leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same wa

deal with the nation's deficit. we're watching what's going on at the white house, we'll have the full coverage of the news conference leading into it. we're also watching right now what's happening in newtown, connecticut. one month to the stay after that brutal massacre, you're looking now at live pictures, a news conference there, they're going to read a poem, let's listen in. >> it is a sad honor to be here today. it's been one month since i lost my son dillon and 25 other teams lost their loved ones. at times it feels like only yesterday and at other times it feels as if many years have passed. i still find myself reaching for dillon's hand to walk through a car parking lot. it's so hard to believe he's gone. at the same time i look at our community and what has been achieved in one month. a vacant school has been lovingly restored with great care and attention to welcome students back into a peaceful and safe environment. many businesses and groups are promoting the love we have in newtown as well as fundraising to help those in most need. neighbors here and elsewhere are re

driver of our deficits, we can arrive at a package that gets this thing done. i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people, the threat that unless we get our way, unless you gut medicare or medicaid or you know, otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. that is not how historically this has been done. that's not how we're going to do it this time. what i'm saying to you is there is no simpler solution, no ready, credible solution other than congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling because this is about paying your bills. everybody -- everybody here understands this. i mean, this is not a complicated concept. you don't go out to dinner and eat all you want and then leave without paying the check. if you do, you're breaking the law. congress should think about it the same way that the american

going to live within our means, how are we going to bring down the debt and the budget deficit, what are we going to do about the trade deficit so we can create an economy again that's growing for the good of all. that's the most important thing i think is -- i think is happening. i think it's just so important that we move to a comprehensive strategy to enable economic development in the united states. that's the most important thing we do for all of us. jeff: if you were asked, would you work in if obama administration? -- in the obama administration? >> i've been very pleased to support the administration, this administration and the previous one because that public private partnership especially for manufacturing in the united states and especially with the trade rules around the world, i've been pleased to be asked and listened to. jeff: i mean a real job? >> i think the best thing i can do and feel really good about it is serving forward. jeff: your work is done. you have done it. >> no, we're just getting started. it is an important part of the united states economy. nea

spending, which is the main driver of our deficits, we can arrive at a package that gets this thing done. i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. the threat that unless we get our way, unless you gut medicare or medicaid, or, you know, otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. that is not how, historically, this has been done. that's not how we're going to do it this time. [ inaudible question ] chuck, what i'm saying to you is that there is no simpler solution, no ready, credible solution other than congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling. because this is about paying your bills. everybody here understands this. i mean, this is not a complicated concept. you don't go out to dinner and then, you know, eat all you want, and then leave without paying the check. and if you do, you're br

indicated before, and have bid have a conversation on how we reduce our deficits further in a sensible way. -- i would have a conversation about how to reduce our deficits in a sensible way. we can talk about how we can make sure we finance our workers getting properly trained and are schools getting the education they deserve. there is a whole growth agenda that is important does well. -- as well. what you have not seen as the notion that has been presented so far by the republicans that deficit reduction will only cover spending cuts, that we will raise the debt ceiling dollar for dollar on spending cuts. there are a whole set of rules that have been established that are impossible to meet without doing severe damage to the economy. we're not going to put ourselves in a position where, in order to pay for the spending we have already incurred, where the two options are we were way to either profoundly hurt the economy, hurt seniors, hurt kids trying to go to college or we will blow up the economy. we will not do that. not whatever congress does. they will have to send me something th

dropped eight. we will get out the calculator to check out the numbers for the deficit reduction so far. that is coming up later. up next, is the u.s. entering a new battleground in the war on terror? [ male announcer ] when these come together, and these come together, one thing you can depend on is that these will come together. delicious and wholesome. some combinations were just meant to be. tomato soup from campbell's. it's amazing what soup can do. yeah. then how'd i get this... [ voice of dennis ] ...safe driving bonus check? every six months without an accident, allstate sends a check. ok. [ voice of dennis ] silence. are you in good hands? well, dad, i spent my childhood living with monks learning the art of dealmaking. you've mastered monkey-style kung fu? no. priceline is different now. you don't even have to bid. master hahn taught you all that? oh, and he says to say (translated from cantonese) "you still owe him five bucks." your accent needs a little work. >> bret: the youngest and most innocent are victims of the syrian war. 13 people were killed including eight chirp. >

pledges. we said we would cut the deficit and it is down by 25%, we said we would cut immigration and it is down by 25%, we said we would rebalance the economy and there are 1 million private sector jobs. that is a record to be proud of. >> i am afraid he will have to do better than that. his adviser said that the government should not publish the secret audit because it had "problematic areas", would lead to "unfavourable copy", and identify "broken pledges" -- that is a far cry from the rose garden, isn't it? the government said they would "throw open the doors...to enable the public to hold politicians...to account." have another go. it is a simple question. was it his decision not to publish the audit because -- and i quote from his adviser -- it would "overshadow" favourable coverage? he should calm down. it is early in the year so calm down. you've got difficult times ahead. was it his decision not to publish the audit? >> it is my decision that it is being published this afternoon. is that really the best he can do? he has had a week sitting in the canary islands with nothing else

our economy and broadening opportunity for the middle class is shrinking our deficits in a balanced and responsible way. and for nearly two years now i've been fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade, which would stalize our debt and our deficit and n. a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy but it would make it manageable so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step we've made progress towards that goal. over the past two years i've signed into law $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue by making sure the wealthiest americans begin to pay their fair share. when you add the money that will save an interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not coun

slashing the deficit and avoiding that well-known and worn fiscal cliff is killing us, krugman writes, getting in the way of what really needs to be done, which is dedicating government to creating jobs and getting us back to full employment. he blames not only congress but the white house. paul krugman is professor of economics and international affairs at princeton university. since 1999, he's been an op-ed columnist at "the new york times" and now also writes a blog for the paper titled "the conscience of a liberal." according to the search engine technorati, it's the most popular blog by an individual on the internet. author or editor of some 20 books and more than 200 professional papers, krugman is a thinker so esteemed and widely known in his field he's become an icon. not only has he won the nobel prize in economics, he's also the subject of this song by the balladeer loudon wainwright iii -- ♪ i read the new york times that's where i get my news ♪ ♪ paul krugman's on the op-ed page that's where i get ♪ ♪ the blues 'cause paul always tells it like it is we get ♪ â™

to growing our economy and broadening opportunities for the middle class is shrinking deficits in a balanced and responsible way. and for nearly two years now, i have been fighting for such a plan. one that would reduce our deficits by $4 trillion over the next decades. which would stabilize our debt and deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy but it would make it manageable so that it does not crowd out the investments we need to make in people, education, job training, science, medical research. step by step, we made progress towards that goal. over the past two years, i have signed into law about $1.4 trillion in spending cuts. two weeks i signed into law more than $600 billion in new revenue by making sure the wealthiest americans begin to pay their fair share. when you add the money that will save in interest payments on the debt, altogether that adds up to a total of $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion already saved fr

is shrinking our deficits in a balanced and responsible way. and for nearly two years now i've been fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade which would stabilize our debt and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable so it doesn't crowd out the investments we need to make in people and education and job training, science medical research, all the things that help us grow. now, step by step we've made progress toward that goal. over the past two years, i've signed into law about $1.4 trillion in spending cuts. two weeks ago, i signed in a law more than $600 billion in new revenue by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, altogether that adds up to a total of about $2.5 trillion in deficit reduction over the past two years, not counting the $400 billion already saved from winding down the

growing our economy is shrinking our deficit and a balanced and responsible way. for nearly two years now, i have been fighting for such a plan. one that would reduce our deficit by four trillion dollars over the next decade which would stabilize our debt and our deficit and sustain us for the next decade. that would be enough not only to stop the growth of our debt and the size of our economy and make it manageable. education and job training in science and research and all of those things that help us grow. step-by-step, we have made progress towards that goal. over the past few years and signed into law 1.4 trillion dollars in spending cuts. two weeks ago i signed into law more than $600 billion in revenue by making sure the wealthiest americans began to pay their fair share. when you add the money that we will save in interest payments on the dead altogether that adds up to a total of about 2.5 trillion dollars and deficit reduction over the past two years. not counting the $400 billion already safe from winding down the wars and i rock and afghanistan. we have made progress. we a

different from the others that weren't? >> well, what makes it different is we have no deficit due to years of budget cuts and due to the new tax revenues we're realizing from voters' approval of proposition 30 in november and essentially as he said, this is a breakthrough. it's not without risks. he was careful to caution. it's only january. this is only the start of the budget process. we all mull it over see how the numbers develop. he puts out his may revision then the legislature starts fight over it and hopefully we have a document enacted by the end of june. we're only at the very beginning. there are a lot of risks along the way. there's a federal deficit that needs to be contended with that can have a lot of impact on the way the state gets and spends its money. the economic recovery is still sort of slow and struggling upward and any reversal on that could spell a change in our state revenues. the federal government or the courts could have a problem with some of the proposed budget cuts that we have made or want to make. it's happened a lot over the last few years. and i

is shrinking our deficits in a balanced and responsible way. and for nearly two years now, i've been fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade, which would stabilize our debt and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable so it doesn't crowd out the investments we need to make people and education and jobs and science research. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue by making sure the wealthiest americans begin to pay their fair share. when you add the money that will save in interest payments on the debt, altogether that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion already saved from winding down the wars in iraq and afghanistan. so we've made progre

class is shrinking our deficit and a balanced and responsible way. for nearly two years now i have been fighting for such a plan, one that would reduce the opposite by four trillion dollars over the next decade, which would stabilize the debt and deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of the economy, but make it manageable so it does not crowd out the investments we need to make in people and education and job training in science and medical research, all the things that help us grow. step-by-step we have made progress towards that goal. over the past two years i have signed into law 1.4 trillion dollars in spending cuts. two weeks ago i signed more than $600 billion in new revenue by making sure the wealthiest americans began to pay their fair share. when you add the money we will save an interest payments on debts, altogether that adds up to a total of 2.5 trillion dollars in deficit reduction over the past three years. not counting the $400 billion already saved from winding down and get

. some fall lists -- 7:10. some analysts say california's budget deficit could possibly be solved by getting oil out of shale in monterey. the monterey shale runs from los angeles to san francisco and macon obtain more than 400 billion barrels of oil. but getting it out, that's tricky. because of the san andre causes fault, the shale rock is not flat so drilling for oil is difficult. however, the u.s. energy information estimates more than $15 -- more than 15 billion barrels of oil can be recovered using new technology. >>> 7:11. how to move forward. the big debate taking place in newtown, connecticut, one month after the tragic school shooting. >> also, what will lance armstrong say? new details about his big interview with oprah just hours away. >>> it's cold out there. lots of upper 20s, 30s. doesn't matter. some of the wind chills in the teens. it will be sine but it is a little -- sunny but it is a little breezy. >>> one month after the newtown, connecticut shooting people there are now talking about what should be done with the building to sandy hook elementary school. at a mee

very starkly by the president. he asserted that american people vendcated his approach to deficit reduction in the recently passed election. he said he was willing to negotiate over ways to cut the deficit in the future but he accused house republicans of playing a hostage game with debt limit in the debt ceiling very soon and said he will not participate. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the kru united states of america is not a bargaining chip and they better choose quickly because time is running short. >> john boehner put o out a statement right after the news conference trying to stay out of box the president put them in. he said, the house will doity job and pass responsible legislation that droenls spending, meets our nation's obligations and keeps the government running. the question will be, can he move his caucus in a place to where he is reach an agreement with the president that raises the debt limit without violat

our deficits in a balanced and responsible way. and for nearly two years now, i've been fighting for such a plan. one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue. by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion already saved from winding down the wars

sustain a persistent rise from price inflation. lori: the deficit crisis crisis, and unemployment, debt to the atp number is the normal. >> with a new treasury secretary who will drive a hard bargain. that does not improve the outlook. lori: you would not vote for him if you have the opportunity? >> i will pass. lori: thank you for coming. another shooting at and school yesterday what drives our kids to bring the guns to school? said treasury secretary picked republicans are not a fan of the man who produced three balanced budgets. three balanced budgets. next. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. and i wished it would just go away. [rock music playing] it was my adhd. and like many kids with adhd, i didn't outgrow it. one of the issues i had was not being able to focus. i would read and i would reread the same sentence. you'd read it over and over and over agai

purchasing power to sustain a persistent rise from price inflation. lori: the deficit crisis crisis, and unemployment, debt to the atp number is the normal. >> with a new treasury secretary who will drive a hard bargain. that does not improve the outlook. lori: you would not vote for him if you have the opportunity? >> i will pass. lori: thank you for coming. another shooting at and school yesterday what drives our kids to bring the guns to school? said treasury secretary picked republicans are not a fan of the man who produced three balanced budgets. three balanced budgets. next. this is $100,000. three balanced budgets. next. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing evolving with beats audio. wireless charging activated. introducing droid dna by htc. it's

deficit, the treasury of the united states would have to go out and issue bonds in order to get cash to pay for it. and that was just a cumber some, awkward thing to do. what they did was create this debt cerealing which meant t ce could issue bonds for chunks of money not related to every single law that was passed. it was just because it was cumbersome. it is not a debt control or spending control measure. the president used an analogy today, used many, to say this is like eating at a restaurant, having your fill and not paying the bill. if you want to discuss -- >> dine and dash. >> yes, dine and dash. we have two problems. one is we have to understand the terms of this thing. this is about increasing the treasury's ability to pay for things that have already been committed to by the government. the danger is if you have this discussion about not paying it, those who lend you money seem to think you're not serious about this. imagine having this conversation with american express on the line. we weren't supposed to eat out that much last month. we're only going to pay amex 200 of the

you quickly he's put in place, 3.25 in place of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and it's not a reduction in baseline, it's a reduction in the rate of growth of spending, which is again suffocating to the private economy and unsustainable over the course of the next several years. >> megyn: one thing we did hear the president reference personally, we heard it from nancy pelosi prior, but the president personally talking about now closing more loopholes and that means higher taxes. we don't know on who, but he would not specify any specific spending reductions and refusing to negotiate with the house republicans on the issue of the debt ceiling. lou, an interesting couple of months. looking forward to it. >> megyn: all right.

administration, they are about half way there in deficit reduction, and that modest changes to health care, entitlement spending could accompany the closing the tax loopholes. a marker on a future negotiation. house speaker bane says in response that the house does it job and passes responsible legislation that controls spending, meets our nation's obligations, and keeps the government running. we will insist that the democratic majority in washington do the same. republicans on thursday will have their annual conference retreat in williamsburg, virginia to discuss their debt ceiling strategy moving forward. back to you. >> and speaking of responsible bookkeeping as the president was, you're just getting word the president's budget won't be delivered by the february 4th deadline; is that right? >> yes. a spokesman for the house budget committee confirms the white house communicated to them they will not get their budget to the white house on time. this is a deadline they met in the past, although, it's not like the white house will not come out with their budget. releasing the budget. than

problems of this country. the deficits that are mounting, but no one is talking about the cost of amnesty. when it was considered by congress in 2007 the cost of have been over two and a half trillion dollars because all those illegal aliens become eligible for food stamps, medicaid or medicare, social security, unemployment insurance it here and all that, that was pre obamacare, so now i will be even more. this is the last time we should be talking about amnesty because we cannot afford it. the taxpayers in the pain for the demint to the benefits for the illegal aliens or legalized eligible for welfare benefits. that is the hidden element. the other thing it is not being talked about will be in this going to slow this down is unemployment. 78 percent unemployment. the people underemployed. why in the world would we choose now to give legal status to 11 million illegal aliens so they can more effectively compete against unemployed americans. gerri: marshall, a smack in the eye of organized labor? because here you write a lot to bring in all these new workers. the very people that obama re

deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. we are not a deadbeat nation. >> thank goodness. but next, news flash, we already hit the ceiling two weeks ago. and the treasury's been using, quote, extraordinary measures to pay its bills. what does that even mean? the money shuffle can't last forever. the u.s. is out of money to pay its bills, it's already spent in less than four weeks. i have cousins that do that. they play to hold the debt ceiling hostage. aides say half the conference is ready to let the nation default. speaker boehner will school them on the real threat later this week. even a temporary extension for, say, two or three months could rattle the markets and threaten the nation's credit rating. last time they hashled out a debt deal? summer of 2011 and we ended up more than a trillion dollars in mandatory spending cuts and congress still hasn't addressed and delayed again until march. we start with nbc's peter alexander outside the white house. peter, the president also to

going up. >> it's bigger and bigger, and the deficit doesn't seem to be getting really teenie tiny either, does it stuart? >> no, just not. 3 1/2 billion extra every single day. >> i know, amazing. stuart: tell me how it actually affects our economic growth rate. how does it it do this? >> well, now, with low, low, low, low, interest rates, it doesn't increase the use of tax receipts it pay interest on the debt. but as interest rates rise, which they will, it will have an enormously deleterious effect on growth rates. it really will and that's what we're worried about, the long run prospects of what this national debt and thereby tax receipts use today pay interest wi will do. >> i have a new report from congress, climate change is here, watch out, it's affecting us, because we humans, all our economic activity. the report was written by 240 business leaders and scientists found that climate change is having an impact on infrastructure, water supplies, crops, shore lines. art,this surely is a buildup, softening us up to the point where we will accept a carbon tax, is that right? >>

have that capability in the federal government to add to the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is -- >> guest: the technology aspect is manifold. in the last four years alone, the solar industry has gotten on what they call a moore's law curve meaning price performance improves by roughly two times every 18-24 months. in the last four years, we've gotten ourselves in an innovation cycle in batteries so that by the end of 2020 electric vehicles actually will be price competitive with gas-driven cars. the problem with these things is that we can't wait. we can't wait because of the environmental effects, and we can't wait because we need the economy to grow quickly right now. so the book lays out a whole bunch of different ideas for bringing private investment much, much more quickly into the job of rebuilding the power plant. >> host: reed hundt, recently on this policeman james glans was on this program. he's written a series on some of the new yor

fiscal cliff deal left the deficit. keep it right here on "morning joe." ♪ [ male announcer ] shift the balance of power decisively in your favor. the exclusive 8-speed transmission and rotary shifter in the 2013 ram 1500. engineered to move heaven and earth. guts. glory. ram. the new ram 1500. motor trend's 2013 truck of the year. in the middle of the night it can be frustrating. it's hard to turn off and go back to sleep. intermezzo is the first and only prescription sleep aid approved for use as needed in the middle of the night when you can't get back to sleep. it's an effective sleep medicine you don't take before bedtime. take it in bed only when you need it and have at least four hours left for sleep. do not take intermezzo if you have had an allergic reaction to drugs containing zolpidem, such as ambien. allergic reactions such as shortness of breath or swelling of your tongue or throat may occur and may be fatal. intermezzo should not be taken if you have taken another sleep medicine at bedtime or in the middle of the night or drank alcohol that day. do not drive or operate

the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> brown: the 2011 stand-off between the president and republicans over the debt ceiling led the nation to the bryning of national default. standard and poors even lowered its rating on u.s. government bonds. today, president obama said any repeat performance would be, quote, irresponsible. >> if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> brown: at the same time, the president rejected urgin

can't overcome those kind of deficits by providing head start education program. so that's where the book began. and most o the people advised me said, well, it's a very interesting book. i'm sure you'll get on fox tv. my goal was not to be a critic. i said, let me do part two of the book, to calm people down and say there are some social programs that are quite effective, and maybe we can learn a lesson from them. the big quiz that in the course of writing the book i conducted and bored to death my wife and my children, was, let me sit down with everybody i know and tell me the three government programs that have been the most effective in, say, the last 65 years. almost every one of my academy friends would say head start and i would say, wrong. no evidence it works. the most effective government program is in sort of chronological order, social security, the g.i. bill, 1944, and medicare in 1965. now, there will be some pushback about that. even u.s.a. today had an editorial today that said social security is a pay as you go program. no, it's not. it can never go broke. provided t

. >> kim missed it. >> the seahawks erased a 20 pot halftime deficit against the falcons, and they go ahead one on this marshawn lynch into the endzone...now lynch fumbled it but video review shows he already broke the plane, with 13 seconds left...the falcons in fieldl range...pete carroll calls a timeout right before matt bt missed his kick...but bryant nailed the one that counted...the falcons avoidn epic collapse and win 30-28o the 49ers will pack their bags for atlanta onto afc where it will be a remah of last year's championship game...tom brady threw 3 touchdowns, 2 to cal product shane vereen, 41-28r the texans...ravens and pats next sunday night warriors denver, they led by 8 headi into the 4th where it was a complete meltdown...ty lawsn the layup drill...warriors outscored 38-17 in the final quarter...those faces tell all...116-105 warriors lose the cal women got revenge on their bay area rival...brittany boyd one o6 cal threes on the day...67- 55...stanford loses for the second straight time at maples...and their 82 game conference win stre snapped thanks, dennis that does

. default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of socialism. now the next crisis in washington. tom peterffy will join me next. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why se

recession. and ironically, would probably increase our deficit. >> reporter: and it would, the president warned, delay checks for social security and veterans' benefits. the president also said he would soon ask lawmakers to create new gun laws in the wake of the newtown massacre. he will likely seek universal background checks, limit on high-capacity magazines and a ban on assault weapons. reporting live here from the newsroom, i'm bob redell. >> bob, thank you very much. >>> after nearly two months in the hospital, former president george h.w. bush has been discharged. nbc news learning doctors at methodist hospital in houston, texas releasing the 88-year-old bush just this morning. he was admitted november 23rd for treatment of a bronchitis-related cough. in december, the nation's 41st president spent a week in the hospital's intensive care unit for treatment of a persistent fever. no word so far whether the elder bush will return to his houston home or be moved to rehabilitation center for continued medical treatment. >>> and some trouble this morning for apple. that stock

bit too high when the white house is trying to reduce the deficit. >> they can not get it done. they did can not do anything in washington. >> all right, "60 "-- "60 minutes" is coming up next ♪ secondhand smoke affects everyone's health. it's not just irritating. it can cause heart disease and even death. speak up about secondhand smoke. your health and the health of your family depend on it. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. captioning funded by cbs and ford-- built for the road ahead. >> kroft: everyone has a different idea

seattle was about to steal one. seahawks erase a 20-point deficit to take a one-point lead over atlanta. this is less than a minute to play here. the falcons get into field goal range with less than a second on the clock. matt o'brien sends it into field goal range. falcons win it by 30 of the 28. a rematch of last year's afc title game. baltimore travels to new england. that game starts at 6:30 eastern next sunday on cbs, and atlanta will host the 49ers in the nfc championship game. the winners meet in new orleans to decide super bowl xlvii. the big game, sunday, february 3rd. and the only place to watch it, right here on cbs. >>> lance armstrong says he's ready to speak candidly. armstrong will be interviewed by oprah winfrey today. he's expected to confess to doping, something he's denied for years. last year armstrong was stripped of all seven of his tour de france titles. they say he ran the, quote, most sophisticated professionalized doping program the sport has ever seen. >>> when we come back on a monday, law and order. in a rare interview, the supreme court's sonia soto

dollar budget deficit, that would affect services for people all over san francisco; we would have to pay more for services and have services cut; where we needed it most. i felt the first year as chair of the budget committee, i learned so much about my abilities and how to make difficult stands on issues, and how to have working relationships with people going forward. i work closely with the mayor's office and with organizations across the city. in spite of difficult choices i feel i made the right choices; i always voted with my conscience and i'm proud of that. i'm excited to see the changes happening in district 11. four years ago we were really shaken hard by the high level of violence and homicides in our district. what was great to see in district 11 were places where there was a focus of some of the violence; neighbors came together and made the neighborhood stronger, particularly around athens street, you have a beautiful community garden there, at athens and avalon that will be dedicated in a couple of weeks now. we have a new neighbor organization, they will be honored to

added to the deficit. >> reporter: president obama is reviewing a list of proposals from joe biden about how to reduce gun violence. the two met earlier today to go over the vice president's recommendations over how to tighten tougher gun laws. among the proposals under consideration are a ban on assault weapons and high capacity ammunition clips. here in the bay area gun buy back is scheduled for tomorrow in marin city. the event offers gun owners $200 to turn in their semi automat weapons. and $100 for other guns. the guns can be brought to police stations in novato, san rafael, and point rays from 11:00 a.m. to 8:00 p.m. guns will be accepted from residents of marin, sonoma, san francisco and contra costa counties. >>> santa cruz police are searching for a man who groped a 12-year-old girl. here is a police sketch of thiasus protect. the girl was attacked on friday as she walked home from school on watt null avenue. the suspected is described as latino in his 20s about six feet tall. more than 250 pounds and wearing wire rim glasses. marin city man is accused of rape is behind b

the back of the end zone, the seahawks cut the deficit to six points. seahawks still down by six with less than a minute to play on third and five, wilson avoids the sack, flips it out to marshon lynch who takes it down the sideline and gets the seahawks inside the 4 yard line. two plays later, lynch bulls his way in for the touchdown. he fumbled as he broke the plain, but the play was upheld on review. seahawks take the lead on the extra point. the falcons are on the verge of an epic collapse, but they get into field goal range with 13 seconds to play. matt ryan, with the 49-yarder to take the lead. and pete carroll had called a time out before the ball was kicked. another shot at it, this time he puts it through the uprights. last chance for the seahawks, wilson throws up the hail mary to the end zone, but julio jones, the star wide receiver comes down with the interception to end the game. falcons win in dramatic fashion, 30-28 to get to their first nfc championship game since 1999. after the game, quarterback matt ryan spoke about his winning first career playoff game. >> you know

examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal charges for hacking and distributing online data he thought should be made public. >> brown: ray suarez updates the changes in cuba, where travel restrictions r

have to do something on the fiscal front to deal with the deficit, and i don't think he can get around ed, i don't think he wants to get around at. it will be how he approaches it will make a difference. >> charles, there are rumors circulating that republicans in the house will let the sequester said in and put him right back in the white house to do wit to -- deal with it. a plan is jack lew's a signal from obama that he will pursue the course he pursued in the first term, to spend as much as he needs to establish the entitlement state and tax at a higher level to pay for it. jack lew is exactly the kind of liberal historically who has been his warrior on the front in negotiating on this. there is no indication that lew would go in any other direction, and it is clear to me that by this series of agreements obama has made, unlike added a first term more features people of independent stature, he has gone from a team of rivals to team of underlings. >> well, that is one nomination, but the nomination of former srepublican senator chuck hagel to head the department of defense ha

1.2 trillion debt reduction over 10 years, but $120 billion a year. our deficit is 1.2. all they're talking about 10% of the problem. the people don't understand. they think the 1.2 is equal to the deficit. it's only 10% of the deficit. my solution is to raise taxes by $300 billion and cut spending by $900. -- by $900 billion. i find the american public is not very smart. host: you know, that is -- the educational question is a fundamental question. here's what happens. let's talk in practical terms and not a theoretical terms. when paul ryan came out with his budget, he had some substantial changes in medicare and medicaid. over time they would've been phased in. no one over the age of 55 would've been affected by them, giving you time to really prepare for your retirement. the changes were relatively minor in the short run, but compounded over the next 20 years would've made a real difference in our indebtedness. that is not the kind of debate we had last year either at the presidential or senatorial congressional level. it was this. people want to change medicare want to push gan

, but get this spending pattern broken. we cannot afford a $4 billion a day deficit and trillion dollar plus deficits every single year. we just cannot afford it. so it requires thoughtfulness and it requires that we are going to have a plan to work through this. i think that that's where we as republicans are headed. >> congresswoman marsha blackburn, thank you for taking the time to talk to us. michael, let me get back to you in this meeting that speaker boehner is going to be having and convince that he's going to have to do to conservative members of his party. how tough a sell job? >> i think it's tough. one reason it's tough, i was struck by the congresswoman's comments. i think there is fundamental disagreement about what it would mean not to just have a clean raising of the debt ceiling. so, in other words, if i heard the congresswoman correctly, i think she was reflecting a sense among some people that you could shut down the government, stop paying some bills, pay other bills, pay interest on the debt, for instance, and we could kind of get through it that way. i think

reduce the federal deficit. >> thank you, gentleman. i yield back, mr. chairman. >> mr. hastings. >> i don't have any questions. >> thank you very much. without a doubt of funds, which i'm working on, -- [inaudible] [laughter] >> thank you, mr. chairman. i ask that the gentleman, i know he's speaking on behalf of the constituents when we bring the amendment to the bill, the size of the package with the addition of your amendment, becomes larger than many entire appropriations bills. $60 billion. that's larger than homeland security appropriations bill. mr. king, that's larger than the financial services appropriation bill. that's larger than the state department foreign operations appropriations bill. these are bills from which this congress deliberates for months. hearing the chairman say before you came up to testify that he was committed to making sure that your folks get those things that they need. hearing the priorities that everyone has laid out, knowing these are not optional things that are needed, these are mandatory things that are needed. these are items that new jers

roller-coaster ride seattle coming back from a 20 point deficit. they go with a second hail mary. atlanta wins. pate yos one whi -- patriots on away. they beat the texans. the time 41 after the hour. still ahead everyone is being forced to get health insurance or pay a fee. now it turns out obama care has more hidden secrets for taxpayers. do you want to know what it is like to be a prince or princess? it may be more of a cinderella story than a fairy tale. >> insurance companies say there has to be a mandate to make it cost effective. we have story. >> the affordable care act may get beefed up even more if insurance companies get their way. it is key to making the new law work by offsetting the cost to help six people as well. the penalty for not getting insurance is $95 or one percent of the income. in 2015 it will be $325 or two percent of your income. still much less than the cost of insurance. at those rates many healthy people will on the to forego insurance especially since they know if they get sick down the road they will not be turned away. all of the extra six people e